The 10 biggest business stories on Monday February 29
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Version 0 of 1. 1. One of the UK's largest employers, the retail sector, is facing the loss of up to 900,000 jobs and the closure of thousands of shops in the next decade, according to a report by the British Retail Consortium. 2. Gold is this year best performing asset. Bloomberg reports that the 15 per cent rise in the price of gold so far in 2016 puts it top of the tables when it comes to asset performance. 3. Another financial crisis is certain unless banks and governments reform financial systems across the globe, according to Mervyn King, the former Governor of the Bank of England. 4. Amazon has struck a wholesale supply deal with Morrisons, Britain’s fourth biggest supermarket that will help the online retailer step up its food offering in UK with fresh and frozen products. Morrisons said the deal would allow hundreds of its products to be available to Amazon Prime Now and Amazon Pantry customers in the coming months. 5. Homes priced below £1 million are set to become totally extinct in Mayfair and the wider West End, with less than 5 per cent of homes now sold in Mayfair priced below seven figures. Nearly half are priced between £2 million to £10 million, according to a new report. 6. Trinity Mirror says revenue in the year fell by 6.9 per cent to £592.7 million from £636.3 million a year earlier. The publishing company also set aside £29 million in relation to civil claims arising from phone hacking. 7. China expects to lay off 1.8 million workers in the coal and steel sectors as part of its efforts to reduce industrial overcapacity, an official at the human resources and social security ministry has said. 8. Barclays Africa Group has said that any announcement by its London-listed parent company Barclays would not impact the shareholding and ownership of operations in individual African countries. 9. Apple’s first media event of 2016 will take place on March 21, one day before its hearing over a motion that would compel it to help hack an iPhone used by one of the San Bernardino terrorists. It is expected to show of a new iPad and a new smaller iPhone model, according to Buzzfeed. 10. WhatsApp has confirmed that it will cease support for a number of platforms by the end of 2016, including both BlackBerry OS and BlackBerry 10. |